Indonesia is planning to increase taxes on crypto transactions
The authorities wish to promote crypto educational initiatives
Indonesia could consider BTC mining as a national reserve strategy
The concept of establishing national Bitcoin reserves seems be gaining international level property after the U.S. actually announced one earlier this year. The government of Indonesia, this week, initiated dialogue on the possible impacts of setting up a BTC reserve as part of its economic strategy.
Bitcoin Indonesia, reportedly touted as the largest BTC advocacy group in the country, has claimed that the Indonesian President Prabowo Subianto wishes to understand if maintaining a stockpile of the world’s most expensive crypto asset, that is presently trading at $113,600, could bring a notable change in its economic fabric.
Representatives from Bitcoin Indonesia claimed in a X post that they were invited to open discussions on the topic with the country Vice President, Gibran Rakabuming Raka.
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“We explored a bold idea, using Bitcoin mining as a national reserve strategy. Yes, seriously. Indonesian ???????? is looking into how Bitcoin could fuel long-term economic strength,” the BTC advocacy group said, highlighting key pointers from the meeting.
The group also said it discussed crypto-centred educational and awareness initiatives to reach out to the citizens with the correct information on safe crypto habits and risks involved.
With this step, Indonesia has joined Pakistan, Taiwan, and Kazakhstan to follow the U.S. in this direction. In March this year, President Trump signed an executive, announcing the launch of a strategic BTC reserve and a separate crypto stockpile. His plan, with this, is to bring all of the BTC tokens seized from criminal cases and illegal channels to create a reserve.
Bitcoin is the oldest and most expensive cryptocurrency in the market, that recently hit an all-time-high of over $123,000. Market analysts including BTC-loyal billionaire, Michael Saylor predict that BTC is expected to hit millions of dollars in value in the coming years owing to growing institutional adoption as store of value — and favourable regulatory evolotions.
Meanwhile, South Korea and the UK have dismissed the idea of creating national crypto reserves.
